SearchIthttp://blog.searchit.com.ng
Exclusive Business BlogTue, 30 Jan 2018 08:19:58 +0000en-UShourly1https://wordpress.org/?v=4.7.10SIMBIBOT — AI FOR TEST PRACTICE AND STUDY ON FACEBOOKhttp://blog.searchit.com.ng/2018/01/30/simbibot%e2%80%8a-%e2%80%8aai-test-practice-study-facebook/
http://blog.searchit.com.ng/2018/01/30/simbibot%e2%80%8a-%e2%80%8aai-test-practice-study-facebook/#respondTue, 30 Jan 2018 08:05:25 +0000http://blog.searchit.com.ng/?p=956 Simbi Interactive has the privilege today of unveiling its new product SIMBIBOT. SIMBIBOT is an AI designed to interact conversationally with users on Facebook while helping them practice for selected exams with past questions and answers. With a simple hello on Facebook messenger, UTME and PUTME candidates can interact with simbi and practice past questions […]

Simbi Interactive has the privilege today of unveiling its new product SIMBIBOT.

SIMBIBOT is an AI designed to interact conversationally with users on Facebook while helping them practice for selected exams with past questions and answers. With a simple hello on Facebook messenger, UTME and PUTME candidates can interact with simbi and practice past questions with simbi acting as a study partner, a tutor and course advisory. The AI is easy to use, always available and fun as well.

Speaking on the product, CEO Abdulazeez Ogunjobi noted that “Young Nigerians spend more time on social media mainly Facebook than studying. With more Nigerians using Facebook than any other African country we decided to leverage the platform as a means of getting young Nigerians to study once again in a fun and natural way. The conversational nature enables deeper engagement and retention for the student while allowing simbi to bring the best of her Artificial intelligence to bear in helping young Nigerians ace exams readily”.

With the growth of truly intelligent systems the Simbi Team has been able to harness revolutionary technology to address critical educational problems with Test Practice being the first educational problem they are using Artificial Intelligence to solve cheaply and made available to millions of Nigerians regardless of the type of device they use or how slow their internet connection is.

SimbiBot meets the needs of millions of students who find paper based and legacy web practice systems tedious and typically use these between 3 -5 times throughout the preparatory periods with a mad dash to practice several hours to the exams.

With SimbiBot, students can schedule periodic practice sessions with quick reminders and very short practice times to get the student to complete practice tests, this enables them learn from their mistakes taking into account the very low attention span of teenage and adolescent test takers.

Simbi is just the best, most responsibly smart friend a test taker can have in his/her pocket as they get ready for the exams that will shape their careers and future. Simbi is always ready to lend a smart helping hand, says Abdulazeez.

]]>http://blog.searchit.com.ng/2018/01/30/simbibot%e2%80%8a-%e2%80%8aai-test-practice-study-facebook/feed/0STEPS TO IMPROVE YOUR NEGOTIATION SKILLhttp://blog.searchit.com.ng/2017/12/06/steps-improve-negotiation-skill/
http://blog.searchit.com.ng/2017/12/06/steps-improve-negotiation-skill/#respondWed, 06 Dec 2017 00:24:03 +0000http://blog.searchit.com.ng/?p=931Negotiation is a very useful skill that can be used to settle differences and various dispute. It is a process whereby you agree to disagree, you end in a compromise or an agreement while also avoiding any form of disagreement and argument. In any disagreement, individuals understandably aim to achieve the best possible outcome for their […]

]]>Negotiation is a very useful skill that can be used to settle differences and various dispute. It is a process whereby you agree to disagree, you end in a compromise or an agreement while also avoiding any form of disagreement and argument.

In any disagreement, individuals understandably aim to achieve the best possible outcome for their position (or perhaps an organization they represent). However, the principles of fairness, seeking mutual benefit and maintaining a relationship are the keys to a successful outcome.

Specific forms of negotiation are used in many situations: international affairs, the legal system, government, industrial disputes or domestic relationships as examples. However, general negotiation skills can be learned and applied in a wide range of activities. Negotiation skills can be of great benefit in resolving any differences that arise between you and others.

Here is a list of structured approach to which you my use to get better at negotiating. Negotiations can be broken down into stages;

Homework

Before any negotiation takes place, a decision needs to be taken as to when and where a meeting will take place to discuss the problem and who will attend. Setting a limited time-scale can also be helpful to prevent the disagreement continuing.

This stage involves ensuring all the pertinent facts of the situation are known in order to clarify your own position. In the work example above, this would include knowing the ‘rules’ of your organization, to whom help is given, when help is not felt appropriate and the grounds for such refusals. Your organization may well have policies to which you can refer in preparation for the negotiation.

Undertaking preparation before discussing the disagreement will help to avoid further conflict and unnecessarily wasting time during the meeting.

Dialog

During this stage, individuals or members of each side put forward the case as they see it, i.e. their understanding of the situation.

Key skills during this stage include questioning, listening and clarifying.

Sometimes it is helpful to take notes during the discussion stage to record all points put forward in case there is need for further clarification. It is extremely important to listen, as when disagreement takes place it is easy to make the mistake of saying too much and listening too little. Each side should have an equal opportunity to present their case.

Clarifying Goals

From the discussion, the goals, interests and viewpoints of both sides of the disagreement need to be clarified.

It is helpful to list these factors in order of priority. Through this clarification it is often possible to identify or establish some common ground. Clarification is an essential part of the negotiation process, without it misunderstandings are likely to occur which may cause problems and barriers to reaching a beneficial outcome.

Negotiate Towards a Win-Win Outcome

This stage focuses on what is termed a ‘win-win’ outcome where both sides feel they have gained something positive through the process of negotiation and both sides feel their point of view has been taken into consideration.

A win-win outcome is usually the best result. Although this may not always be possible, through negotiation, it should be the ultimate goal.

Suggestions of alternative strategies and compromises need to be considered at this point. Compromises are often positive alternatives which can often achieve greater benefit for all concerned compared to holding to the original positions.

Agreement

Agreement can be achieved once understanding of both sides’ viewpoints and interests have been considered.

It is essential to for everybody involved to keep an open mind in order to achieve an acceptable solution. Any agreement needs to be made perfectly clear so that both sides know what has been decided.

Implementing a Course of Action

From the agreement, a course of action has to be implemented to carry through the decision.

Failure to Agree

If the process of negotiation breaks down and agreement cannot be reached, then re-scheduling a further meeting will be best. This avoids all parties becoming embroiled in heated discussion or argument, which will not only wastes everyone’s time but can also damage future relationships.

At the subsequent meeting, the stages of negotiation should be repeated. Any new ideas or interests should be taken into account and the situation looked at afresh. At this stage it may also be helpful to look at other alternative solutions and/or bring in another person to mediate.

Informal Negotiation

There are times when there is a need to negotiate more informally. At such times, when a difference of opinion arises, it might not be possible or appropriate to go through the stages set out above in a formal manner.

Nevertheless, remembering the key points in the stages of formal negotiation may be very helpful in a variety of informal situations.

In any negotiation, the following three elements are important and likely to affect the ultimate outcome of the negotiation:

Attitudes

Knowledge

Interpersonal Skills

Approaches

All negotiation is strongly influenced by underlying approaches to the process itself, for example approaches to the issues and personalities involved in the particular case or approaches linked to personal needs for recognition.

Always be aware that:

Negotiation is not an arena for the realization of individual achievements.

There can be resentment of the need to negotiate by those in authority.

Certain features of negotiation may influence a person’s behavior, for example some people may become defensive.

Information

The more information you possess of the issues in question, the greater your participation in the process of negotiation. In other words, good preparation is essential.

Do your homework and gather as much information about the issues as you can.

Furthermore, the way issues are negotiated must be understood as negotiating will require different methods in different situations.

]]>http://blog.searchit.com.ng/2017/12/06/steps-improve-negotiation-skill/feed/0GLOBAL DATA INSIGHTS FROM EXISTING SALES STRATEGIEShttp://blog.searchit.com.ng/2017/12/02/global-data-insights-existing-sales-strategies/
http://blog.searchit.com.ng/2017/12/02/global-data-insights-existing-sales-strategies/#respondSat, 02 Dec 2017 03:39:34 +0000http://blog.searchit.com.ng/?p=923The following are quick insights of some global data from existing sales strategies; 1. The best time to cold call is between 4:00-5:00pm. The second best is 8:00-10:00am. The worst times are 11:00am and 2:00pm. (InsideSales and Kellogg School of Business) 2. Thursday is the best day to prospect. Wednesday is the second […]

]]>http://blog.searchit.com.ng/2017/12/02/global-data-insights-existing-sales-strategies/feed/0TIPS FOR EFFECTIVE NETWORKINGhttp://blog.searchit.com.ng/2017/11/20/tips-effective-networking-2/
http://blog.searchit.com.ng/2017/11/20/tips-effective-networking-2/#respondMon, 20 Nov 2017 21:32:06 +0000http://blog.searchit.com.ng/?p=916To actually be successful in the business world, effective networking is as important as the success itself. Meeting people and creating business relationships are the necessary foundations for a successful business career. It helps you recognize, build, or act upon business opportunities; while still also helping you share information and seek potential partners for your […]

]]>To actually be successful in the business world, effective networking is as important as the success itself.

Meeting people and creating business relationships are the necessary foundations for a successful business career. It helps you recognize, build, or act upon business opportunities; while still also helping you share information and seek potential partners for your various business ventures.

Networking isn’t just meeting people, it is also getting that interview or getting their résumé noticed by human resources.

1. Information not Job

When networking, always remember you are seeking information, not a job position. Making friends with strangers because there is a job opening at his or her firm will only put you in a tight spot. This might destroy the only opportunity you have at getting that job, instead; seek more information about the firm and give out important points about your personal and professional life, with relation to the job opening.

2. Familiar Faces First

It is always best to start with the members of the crowd you know, before expanding to their acquaintances and finally, the total strangers in the crowd.

Also, it is best to practice with your friend before making a move on a potential subject. And lastly, using referral names can go a long way in making the whole process shorter and less stressful. Have in mind what you want to talk about, the topic, the pitch, but don’t stress on it, go with the flow.

While the delay built in to most social network communication makes it easier to “think before you speak”; some contacts you meet will prefer the immediacy of phone calls or instant messaging. In these cases, be prepared to give the name of your referral (if you have one), state why you’re contact them (for information not a job) and ask a short list of questions about your contact’s area of expertise. Putting these thoughts together ahead of time can save you the embarrassment of now knowing what to say.

However, be careful not to over-prepare, since this can easily turn into an excuse for putting off your first contact. Or worse, you can get so married to a specific script that you blank when a conversation strays to another subject.

3. No One Is Perfect at This

It is only normal, not everyone is perfect and not everyone is the same. The truth is you were never meant to be friends with everyone so have it in mind that there will be good and bad days. Consistency, persistence and a sense of humor are the major keys to networking.

And if you find yourself putting off networking because you don’t like doing it, come up with a plan that will serve as a proof. Promise someone you will make 5 contacts a week, and give them reports on your progress. Dedicate time just for networking. Tell yourself you will connect with 7 people before you do any other activities. Then reward yourself for sticking to your plan.

4. Discussions and Topics

Never go in blindly! Ensure you have done your homework on the company, industry or career of your contact. Have in mind a list of questions, including some that deal specifically with their background. Also, ask for advice on your job search, and the names of other professionals who would be beneficial to connect with. Think about ways you might help, like suggesting other contacts they might find useful.

5. Stay In Touch

If you are referred to other people by your contact; ensure you keep in touch about how the new connections are going as they might also come in handy. Your contact will also feel gratified that their contacts were useful, and will admire you for seizing available opportunities which will be good for you both personally and professionally.

It will also assist уоu with meeting goals like buying thаt рiесе of equipment thаt will make уоu mоrе рrоfitаblе оr invеѕting thе money to inсrеаѕе оvеrаll рrоfitаbilitу. Lооk аt a ѕtаtеmеnt оf саѕh flоwѕ; a statement оf саѕh flоwѕ will show you whаt mоnеу iѕ соming in and whаt money iѕ gоing out each mоnth.

Pау Attеntiоn to Yоur Numbеrѕ Eасh Month

Waiting until the еnd of thе уеаr to get уоur bооkkеерing in place fоr уоur tаx ассоuntаnt саn bе a very соѕtlу miѕtаkе. A finаnсiаllу fit buѕinеѕѕ pays vеrу close аttеntiоn tо how the business iѕ doing оn a wееklу аnd mоnthlу bаѕiѕ.

Knоw Yоur Finаnсiаl Rаtiоѕ

Many business оwnеrѕ dоn’t know whаt buѕinеѕѕ ratios they nееd to trасk in оrdеr to bе рrоfitаblе. Knоwing the right rаtiоѕ can hеlр a buѕinеѕѕ оwnеr knоw whаt dесiѕiоnѕ thеу need tо mаkе tо move thеir business in thе right dirесtiоn.

As an example, оnе of the ratios thаt a business nееdѕ tо trасk is thе сurrеnt rаtiо. Thiѕ ratio will help thеm trасk hоw hеаlthу their buѕinеѕѕ is. A hеаlthу business will have аt lеаѕt a 2 tо 1 rаtiо, so $2 in аѕѕеtѕ fоr еvеrу $1 in liаbilitiеѕ. If thе buѕinеѕѕ iѕ саrrуing invеntоrу, it is important tо hаvе a 4 tо 1 rаtiо.

Imрlеmеnting these tооlѕ intо a buѕinеѕѕ саn mаkе a huge diffеrеnсе оn how profitable a business iѕ. A ѕmаll hingе оn a gаtе can help a large gаtе ѕwing bасk аnd fоrth, just as a ѕmаll ѕtер in the right dirесtiоn саn mаkе a huge imрасt on a buѕinеѕѕ.

]]>http://blog.searchit.com.ng/2017/11/04/how-to-make-your-business-financially-fit-2/feed/05 TIPS TO ENSURE YOUR BUSINESS WORKS HARDER FOR YOU & YOUR FAMILYhttp://blog.searchit.com.ng/2017/10/24/5-tips-ensure-business-works-harder/
http://blog.searchit.com.ng/2017/10/24/5-tips-ensure-business-works-harder/#commentsTue, 24 Oct 2017 06:06:18 +0000http://blog.searchit.com.ng/?p=885Mаnу business оwnеrѕ аrе working ѕо hаrd at their buѕinеѕѕ that they fаil to enjoy the rewards of bеing the buѕinеѕѕ owner. If уоu аrе letting the life of уоur buѕinеѕѕ overrule thе buѕinеѕѕ of living your lifе, thеn it is time to bеgin turning thе tides. Finding wауѕ tо mаkе your buѕinеѕѕ wоrk hаrdеr […]

]]>Mаnу business оwnеrѕ аrе working ѕо hаrd at their buѕinеѕѕ that they fаil to enjoy the rewards of bеing the buѕinеѕѕ owner. If уоu аrе letting the life of уоur buѕinеѕѕ overrule thе buѕinеѕѕ of living your lifе, thеn it is time to bеgin turning thе tides. Finding wауѕ tо mаkе your buѕinеѕѕ wоrk hаrdеr fоr you аnd уоur fаmilу iѕ thе rеаѕоn wе аll ѕtаrtеd оur buѕinеѕѕеѕ in thе first рlасе. If уоur buѕinеѕѕ is оbѕtruсting уоur еffоrtѕ to еnjоу life with friends and family, this is a рrоblеm. Wе аll knоw a lоt оf wоrk goes intо building a ѕuссеѕѕful buѕinеѕѕ, but if it iѕ consuming аll уоur timе, effort and еnеrgу… iѕ it worth it?

You mау wаnt to соnѕidеr adjusting your salary in оrdеr to ассоunt fоr соntributing to a rеtirеmеnt plan. There аrе many ways to rearrange thingѕ to mаkе it роѕѕiblе tо соntributе. Thе tax ѕаvingѕ alone can hеlр juѕtifу thе rеdirесting of your inсоmе intо a retirement рlаn. Be sure tо lооk at all of thе different орtiоnѕ and ѕсеnаriоѕ аѕ thiѕ will рrоvidе furthеr clarity.

Your Challenge:

Here are 5 ways to help your business work hard for you and your family. Share your ideas with your spouse, children and business advisers. In every case that we have executed these strategies properly, the rewards were three-fold; Family life improved, your work-life balance improved, and the business also benefited.

]]>http://blog.searchit.com.ng/2017/10/24/5-tips-ensure-business-works-harder/feed/24 EASY METHODS TO HELP YOU COMMUNICATE WITH CUSTOMERS BETTERhttp://blog.searchit.com.ng/2017/10/11/4-easy-methods-help-communicate-customers-better/
http://blog.searchit.com.ng/2017/10/11/4-easy-methods-help-communicate-customers-better/#respondWed, 11 Oct 2017 21:38:02 +0000http://blog.searchit.com.ng/?p=875Success in communicating with customers goes further than just fixing a tech problem or solving a mathematics equation. Communication is the key to all businesses, be it to a customer, client or even a co-worker. Effective communication can lead to the success of business and bring a truck load of customers straight to you. Lack […]

]]>Success in communicating with customers goes further than just fixing a tech problem or solving a mathematics equation.

Communication is the key to all businesses, be it to a customer, client or even a co-worker. Effective communication can lead to the success of business and bring a truck load of customers straight to you. Lack of effective communication mostly always lead to the downfall of businesses.

How can establishments improve communications with their clients to help the business to develop and flourish?

Most business owners asks a particular question, how to improve; the best way to begin is by improving the experience of your customers when they call. Most people believe phone calls is an outdated way of communicating but what they don’t know is Phone call is still the primary channel for communicating with customers, and it takes a whole of 68% while social media communication is only 3% and other means of communication are between 29%. This goes to show just how important a phone call still is in our current tech world.

Here are 4 means to improve your communication with customers;

First Impression

First impression is the best chance for your businesses to impress your prospective customers because they can easily send their business to your competition if they decide they don’t like their preliminary contact with your company.

Just so you know, the easiest way to ruin your business’s first impression is to simply not answer your phone correctly. More specifically, if you’re getting a decent amount of calls on a daily basis and you don’t have an automated system that communicates with callers effectively, it can damage your business more than you may know.

For many businesses, the first point of interaction with a customer will occur over the phone, so the most effective way to ensure better communication with customers is to put a professional automated answering service (called an auto attendant) in place.

A quality automated answering service will answer your customer’s calls quickly, with a friendly and professional voice, and route them to the appropriate extension so they’re connected with the right person the first time.

This takes a huge burden off the shoulders of office personnel, makes for a much smoother and effective communication experience and leaves first-time callers feeling good about their initial interaction with your business. Of course, the key to achieving the benefits of an automated answering system is to make sure it’s developed with customer experience in mind.

On-Hold

Most customers have frustratingly hung up while they are on hold, wait to speak with a live agent. This is what most of us already know and it is something many businesses still haven’t found a solution to. No one hates waiting for too long so try not to make them wait for longer than a couple of minutes.

Work towards ensuring all calls are being routed to the appropriate person or voicemail in a less than that and also, a good automated answering system will help limit the hold time when it is set-up properly.

Another trick I learnt is to make use of a phone that makes a sound to signal when someone has been on hold for a certain amount of time. This may seem like more of an annoyance than a useful business practice, but it will help ensure no caller is left hanging on the line too long.

So work on putting the right processes and technology in place to ensure callers aren’t placed on hold for long periods of time. It’ll help your business in the long run.

Priority

Customer service is the number one form of communication between a customer and a business, so your business can’t afford to slack. When communication breaks down over the phone, people take it personally, and they tend to not give you their business.

Realistic Communication.

This means actually having a conversation with someone hence having telephone interactions that are less scripted and that use less transactional language. Start the conversation in a positive tone rather than a neutral or negative tone.

Customer care services should also be given the right information and tools needed to provide them with a better insight on the customer. Giving your customer care team information about the customer will help them serve the customer better.

Most company’s customer care support are more into hitting metrics instead of working towards being an ally with the customer and this is because they are rewarded based on metrics and not based on their interaction or problem solving skill used with the customer. It is always better to engage the customer in a meaningful way rather than trying to beat the fastest support time. Ask customers what their problems and expectations are, and go at the problem as a team rather than working against the customer to solve their issue.

If customers enjoy communicating with company and they have better experiences while doing this, they are more likely to buy from you and refer other people to you, and I believe this is what every business needs to thrive.

There are only two options here, either it is positive or positive. If you have any comment or question, leave it in the comment box below and we will get back to you as soon as we can.

]]>http://blog.searchit.com.ng/2017/10/11/4-easy-methods-help-communicate-customers-better/feed/0Fastest Selling Strategyhttp://blog.searchit.com.ng/2017/10/06/fastest-selling-strategy/
http://blog.searchit.com.ng/2017/10/06/fastest-selling-strategy/#respondFri, 06 Oct 2017 06:45:08 +0000http://blog.searchit.com.ng/?p=864In today’s high tech selling market, the key for most IT and professional services salespeople is not just finding prospects to talk with, but also finding prospects that will buy. To sell more IT and services, as salespeople we need to value our time more than the prospect does. Let’s be honest – prospects will […]

]]>In today’s high tech selling market, the key for most IT and professional services salespeople is not just finding prospects to talk with, but also finding prospects that will buy. To sell more IT and services, as salespeople we need to value our time more than the prospect does.

Let’s be honest – prospects will waste your time!

IT prospects do not get paid a commission on how many vendors they meet with. Yet, you as an IT salesperson are only paid a fraction of your total income as a salary. Your goal is to double, triple or quadruple your base salary based on your commissions. That means every time you meet with a non-buying prospect, you are wasting your time and reducing your opportunity to increase your income.

The goal is not to meet qualified prospects – the goal is to meet qualified buyers. Just because a prospect has the budget and the need does not mean they are a buyer.

Selling Is Not a Numbers Game!

This is a sales myth perpetuated by antiquated generic sales training books and training seminars from the 90’s. The philosophy is that if you meet with enough prospects, they will become buyers. This makes no sense when selling IT. Technology or professional services sales is a complex, integrated transactional selling process that takes multiple steps to complete.

Believing the above sales myth some IT account managers assume that meeting with a designated department head who has funding means that they are meeting with a qualified buyer.

This Is Totally False.

Qualified prospects are really unqualified buyers until they do something that demonstrates to you that they are prepared to buy now.

In IT Sales, We Only Want to Meet with Qualified Buyers!

The key to increasing IT sales is to only work with qualified buyers and to postpone all interactions with qualified prospects until they become qualified buyers.

So, let’s define the four types of IT sales opportunities that are available to you and then find out how to interact with them.

Unqualified Prospects:Any company who has a business need for your technology or professional service where you are interacting with a manager with a title lower than a Vice President.

Many IT salespeople focus on IT sales opportunities in this category based on their dealings with prospects who have the title of manager or director. These are professional lookers who will waste your time. They should be by-passed for senior management.

Action Step: Keep them in distant view!

Prospects: Any company who has a business need for your technology or professional service where you are interacting with a manager with a title of Vice President or above.

These are business opportunities with identified companies where you meet with Vice Presidents and above, and where they can use your technology or professional services. You should spend minimal time with them until they say they have a budget and a timeline.

Action Step: Keep them in distant view!

Qualified Prospects:Any company who has a business need for your technology or professional service where you are interacting with a manager with a title of Vice President or above, and who has a stated a public budget to pay for it.

Many times this foreshadows the accuracy of the IT sales team’s forecast, so this category of IT sales opportunities must be managed. Most IT salespeople spend too much time with this targeted sales opportunity, believing that they are making forward momentum in their sales cycle by just meeting with qualified prospects. Prospects who are qualified but are not buying today are wasting your valuable sales time.

Action Step: If you cannot get the qualified prospect to show you an action-buying step, move on and come back to them later!

Qualified Buyers:Any company who has a business need for your technology or professional service where you are interacting with a manager with a title of Vice President or above, who has a stated public budget, and who has shown buying actions.

This is the IT sales opportunity you need to spend most of your selling time on. Qualified buyers use action steps to confirm their qualification and move your sales cycle forward. Action steps like having you meet with other executives to discuss their business pains, setting up demos and executive briefings, and asking for proposals are indications of a senior executive seeking to buy.

Action Step: Focus on these accounts and you will sell more.

So, How Do You Determine If a Qualified Prospect Can Become a Qualified Buyer?

Give the senior executive you meet with the first time in person or in a scheduled conference call the 20 Minute Sales Test. I have used this method over and over again, throughout my own IT sales career and with the students and technology firms we teach.

When meeting with a Qualified Prospect, you need to get a commitment of at least four out of the five of the following points to turn them into a Qualified Buyer candidate. Additionally, they must respond to these business variables within the first twenty minutes of your meeting.

This only works with Vice President’s and above.

Are they looking to buy your type of technology or professional services during the next 120 days?

Do they have a budget?

Does the person who is making the decision for the IT purchase have a title of Vice President or above?

Does the executive tell you exactly the business pain that your technology or service will fix and how it will help their firm?

Does the executive ask you to do something next (i.e., take an action, set up a new meeting, etc.)

Why twenty minutes?

Why do they have to describe their business pain to buy my IT?

Why should I not consider them a Qualified Buyer if they are buying in 180 days or longer?

Why can’t I just convince them they have a business pain so they will buy from me?

The key to effectively selling more IT and professional services today is managing your prospects that are buying now, not buying six months from now or next year.

Yes, many IT sales cycles are six months or longer. Selling IT is a changing sales cycle where prospects move up and down on the IT sales opportunity pyramid.

Also, it is always possible to educate a prospect on why they should buy your IT product or service, but in this economy, that could take longer than your sales quota will allow. To sell more, run with those who want to buy and walk from those who want to look.

If a Qualified Prospect is a Qualified Buyer then they will quickly tell you in your first meeting why they need to buy your IT product or service and what business pain it will fix.

If after twenty minutes these questions have not been answered, more than likely the client’s business pain is not strong enough for them take an action step and to move your sales cycle forward.

]]>http://blog.searchit.com.ng/2017/10/06/fastest-selling-strategy/feed/0HOW TO SUCCEED IN THE BUSINESS WORLDhttp://blog.searchit.com.ng/2017/09/17/succeed-business-world/
http://blog.searchit.com.ng/2017/09/17/succeed-business-world/#respondSun, 17 Sep 2017 09:45:46 +0000http://blog.searchit.com.ng/?p=860Mastering these 6 tips in your business world will have your company on the road to success. These are the major habits needed to be procured in order to become a successful entrepreneur. These simple rules if not followed can be disastrous and your business will crumble. When you are able to achieve these goals […]

]]>Mastering these 6 tips in your business world will have your company on the road to success.

These are the major habits needed to be procured in order to become a successful entrepreneur. These simple rules if not followed can be disastrous and your business will crumble. When you are able to achieve these goals you will be able to accomplish greater things which will be faster and easier for you. Without taking much time out of your busy schedule, let me introduce you to the seven basic rules to succeed in a business world; it might seem much but it will be worthwhile:

Business World tips:

Think fast and Plan ahead:

The more you think thoroughly calmly and swiftly ahead of your customers the easier and faster it will be for you to achieve your goal once you start your business. Some people think swift and calm are the opposite of each other and they think it’s not possible to be both at the same time; I think they are wrong and it is possible. A recent discovery was made that most human have at least one to four percent of Neanderthals genes in our blood; Google this up you will find there pictures. My point is once they mated with human they became more beautiful. So when thinking ahead of your customers think positively who knew we could have Neanderthal’s DNA in our blood ad still look beautiful.

“Proper prior planning prevents poor performance.” this is a six p acronym popular in the business world. In order to become a good architect of your business, you will have to develop the habit of asking and answering the following questions:

What does my product stand for?

How well did and do I evaluate my business

Am I serving my customers the right goods?

Are my customers satisfied or they just take what they get?

What gives my customer the zeal to patronize my goods?

What other steps can I take to make my products better

If I were in my customers shoes what would I do?

Why does my potential customer buy from my competitor?

Why do customers prefer buying from my competitor?

How can I counterbalance that insight and get my competitor’s customers to buy from me?

Once you have answers to all these question, the next stage of planning is to set precise marks for auctions and success.

Acquire required resources before you get started:

Once you have strategies the plan for your business, you must get the necessary resources needed begin. Always take this step before taking off a project. Just like how a little thing could make your life better missing little things too can disrupt your business. When your acquire resources you acquire it to very little things; just like cooking, you need salt in very little amount but if not put in the food at all it will be noticed. Learn to acquire necessary resources not fancy ones in order to save money for future purpose.

Employ qualified personnel to work for you:

Your achievement in business world as an entrepreneur depends mostly on the people you work with. To be the best you have to employ the best people; not everything are based on certificates give them trials also before employing them. Like it is said do not judge a book by its cover; they might have a rough start but be the best you get, so a trial is the best you can give them. Delegation also goes under this step; delegate the right job to the right people. Being able to trust people with the right job is a talent I must say; because most falling entrepreneurs are unable to this which causes their failing business.

Review your target:

Once you’ve delegated the task to the right people; you have to monitor your target to be on equilibrium with your customers. Trusting someone with a job doesn’t mean you can’t observe their work once in a while. Remember you are the owner of the business so your business fall; you fall.

Meet the targeted time of your customers with your high quality goods:

Never disappoint your customers except for their benefit; every customer has deadlines even if not said. What gets measured gets done; personnel who are expected to accomplish a task must know with complete transparency the targets that he or she is aiming at in order to achieve maximum productivity.

Determination to succeed:

A popular saying goes “Aim for the sun and if you don’t get there you can always fall on the stars. Positive thinking doesn’t mean you are fantasying but it is a zeal that keeps you going even in against all odds. Another saying “Prepare for the worst, hope for the best.” Positive thinking is a motivation on its own so keep on thinking big.

]]>http://blog.searchit.com.ng/2017/09/17/succeed-business-world/feed/0TOP 5 WAYS ENTREPRENEURS LAVISH THEIR BUSINESS FUNDShttp://blog.searchit.com.ng/2017/09/07/ways-entrepreneurs-lavish-business-funds/
http://blog.searchit.com.ng/2017/09/07/ways-entrepreneurs-lavish-business-funds/#respondThu, 07 Sep 2017 00:14:11 +0000http://blog.searchit.com.ng/?p=856If you are an entrepreneur and your primary goal is to have a business that can flourish for a long time, then do not spend your funds on any of the things I would list below. Today as an entrepreneur, we have more sources of getting funds for our business than ever before. Lots of […]

]]>If you are an entrepreneur and your primary goal is to have a business that can flourish for a long time, then do not spend your funds on any of the things I would list below.

Today as an entrepreneur, we have more sources of getting funds for our business than ever before. Lots of sectors are thriving as new companies are founded every day. This is all thanks to access to funds for capital from various sources.

The most expensive stage of a business is the start-up stage, most entrepreneurs waste a lot of money on things that have little to nothing to do with the growth of their business. It is only natural but we can always do better.

Here are the list of things you should try not to spend money on when starting a business:

Funds

Purchasing an expensive domain name

The first thing you should put at the back of your mind is that; with little regard to the name of your business or product, people will use it if it is good. Come to think of it, how does Etisalat or Integer or Blue-Band sound? These names serves very little purpose compared to the service you provide.

After getting on a high and deciding on a perfect name for your business, the next step is buying a domain name for your website. This comes with an inevitable low; your domain name is already taken. Most entrepreneurs will spend a large amount of money to obtain the domain name but this isn’t the best step to take; because the money being spent to acquire this domain name could be used to hire the talent you need to bring your product to market. Plus, the initial name you pursued is likely going to evolve over time. It’s important to first drill down on your core value proposition before making a significant investment in the brand.

Pimping out your office space

Yes, we all want a dream office, looking perfect and having everything but doing this before your product hits the market or makes profit is always a bad way to start a business. Your first office location isn’t your permanent location. Moreover, your priority should be keeping the lights on and your employees paid.

I know of an IT company that started in a cyber-café before moving to their first office; a shop space that only consisted of tables, chairs, and a standing fan. They were already making profit at that point but the main priority of the manager was to; keep the lights on, make sure internet was available for his employees and make sure his employees got paid. Now they have a bigger office in the heart of Alausa and with time, they will go on to get a bigger one.

Employing an executive assistant

It is all about setting your priorities straight. If your first concern as a start-up is who will be scheduling your meetings or answering your calls then; I must say you have your priorities all wrong. Your number one priority in the early stage of your start-up should be hiring the talents to help you build out your product and service, and prove your value proposition. The more talents you have to help you build your product or service will influence your speed and in the start-up world, speed is everything.

This is the 21st century, there are various apps you could use to track emails, schedule meetings and automate your day. I believe it is better to employ a talent that would help your business move faster.

Hiring consultants

No one is perfect and everyone faces a problem one way or the other but the quality of a successful entrepreneur is the ability to figure problems out as you go. Like I said earlier, this is the 21st century and everything as gotten a lot easier for example; we could get solutions to lots of problems through Google, asking a fellow founder for help on LinkedIn or through various other networks. These sources can provide you with a truck load of information. Instead of whooshing to hire a third party because it “feels” too hard to learn on your own, roll up your sleeves and see what you can accomplish. You might just surprise yourself.

Upgrading your lifestyle

Oh, you just made some money so it’s time to upgrade your lifestyle? Well that is for you to answer but I’d tell you that; whether you raised, a few thousand Naira or a few million, you should never, ever excessively spend your funds by flying first class, staying in fancy hotels or expensive meals at top restaurants. You should know that every naira counts. So if that means living on indomie noodles or with three roommates in a tiny walk up apartment, so be it. If you want life with an expensive account, go back to the corporate world.

]]>http://blog.searchit.com.ng/2017/09/07/ways-entrepreneurs-lavish-business-funds/feed/07 THINGS YOU NEED TO KNOW BEFORE STARTING A SUCCESSFUL BUSINESShttp://blog.searchit.com.ng/2017/09/04/7-things-starting-successful-business/
http://blog.searchit.com.ng/2017/09/04/7-things-starting-successful-business/#respondMon, 04 Sep 2017 00:47:36 +0000http://blog.searchit.com.ng/?p=852No knows it all and what you know in the beginning isn’t as important as your willingness to learn. The business world is a whole new planet. Business Every new thing we start in life is a journey and different journey takes you through different paths with different people. This is the same with business, […]

]]>No knows it all and what you know in the beginning isn’t as important as your willingness to learn. The business world is a whole new planet.

Business

Every new thing we start in life is a journey and different journey takes you through different paths with different people. This is the same with business, it is a journey, a journey most people fail because they don’t have a mentor. Every challenge is lesson, so is every mistake. We can best learn from them and get better. Here are 7 things you need to know for you to start a successful business.

EDUCATION

Education plays a key role in directing us mentally and believe me when I say education is everything, directly or indirectly. We should know though, education could be divided into various sectors; formal and informal, experience and life’s lessons, mentors and adults. Go out there and look for education.

You don’t necessarily need to know your mentor personally, various successful men are out there ready to impact into the life of others. One of my many mentors is Teju BabyFace and I only follow is programs and social media accounts.

LEARN

Personally, I love learning something new, I have a personal belief that no one knows it all and you can only do better. Loads of entrepreneurs have failed due to believing they know it all, please let us learn from them. Sit down, be humble and be willing and ready to learn anything and anytime, regardless of your level in life.

GOAL

Before going into a business, the first and most important question is “What is your goal?” People go into business purposelessly. First thing is know what you want, make a plan and work towards achieving those goals. The best plans are best written down and are always susceptible to change when necessary.

STRENGTH AND WEAKNESS

Studying yourself isn’t just important in your personal life but also, your business life. With this knowledge, you know how to manage your effort, strength and time. Remember what is aid earlier, no one can do it all, you can only try and it could cost you your business as a whole. Focus on what you are good at and bring in an expert in the field you are not good at.

IMPROVING

Progress is great, everyone loves it and everyone wants it. No matter how little, it is something. Believe when I say always be happy with the progress you make. I know from experience that constantly moving toward big wins and quick returns won’t help you on a long run. Reliability and consistency which almost means the same thing are the keys to a successful business.

NETWORKING

Regardless of the type of business idea you have, who you know is all that matters. We can know all types of people or we can know some certain types. Know someone who can advise you, invest in you, or support; mentally, physically or even emotionally. Networking is important for a successful business and regardless of where you are right now, start networking.

LOVE & PASSION

Love and passion are much like glory and gore, they go hand in hand. This is the only thing that can keep you moving. Passion is what drives us to do what we want in life if not, there won’t be a point to doing it. All you need to work towards is becoming a professional, then you will start making much more money.

The best time to start is now. Procrastination won’t do you any good. Get started now.

]]>http://blog.searchit.com.ng/2017/09/04/7-things-starting-successful-business/feed/0BENEFITS OF QUALITY OVER QUANTITY WHEN EVALUATING A BUSINESShttp://blog.searchit.com.ng/2017/08/31/quality-quantity/
http://blog.searchit.com.ng/2017/08/31/quality-quantity/#respondThu, 31 Aug 2017 10:16:22 +0000http://blog.searchit.com.ng/?p=848You hear some people say I prefer this product to that and why do they say that? I wonder. When people find the quality of your business satisfying at a worthy price you gain more customers and lose less. HOW DOES THIS AFFECT BUSINESS? Quantity and quality affects business in every aspect which will be […]

]]>You hear some people say I prefer this product to that and why do they say that? I wonder. When people find the quality of your business satisfying at a worthy price you gain more customers and lose less.

HOW DOES THIS AFFECT BUSINESS?

Quantity and quality affects business in every aspect which will be discussed below. Some consumer say and I quote “I prefer things with high quality than that of high quantity with low quality” while others say vice versa.

BENEFITS OF QUALITY OVER QUANTITY WHEN EVALUATING A BUSINESS

When I and my brother were little; we got the opportunity to pick anything we wanted. I saw a very shiny packaged nylon and I chose that not knowing it was actual soap inside it; I will agree with others that I was attracted to shiny things not knowing the content. Most people are attracted to shiny things without knowing the content

To become a successful entrepreneur you must first think about the evaluating prospect. It’s necessary to evaluate your business in order to make it more profitable; it will also help expose you to the real world of business by getting to have to meet needs of people. No matter what drags you into becoming an entrepreneur you have to take evaluation very seriously.

Evaluation doesn’t just means sitting down and checking things out. It’s more than that; when you evaluate you need adequate capital, sufficient resource and a long term plan. The most important rule is to take quality over quantity which is very necessary.

Quality Over quantity

When you evaluate, you will make investment and you will also need to prioritize the highest quality investment which is most likely to pay off instead of spending money lavishly. Most people invest in low quality applications once they have investment capital and desire to grow.

Here are simple steps to follow in order to become a successful entrepreneur when it comes to choosing quality over quantity:

Hire the right people:

You have to hire people that will convey your business in a worthy manner. “You are your own business,” this is a common say among people. It matters with how your company is being presented for you to gain consumers interest. Hiring is not a race to get hands on deck; it is the ability to be able to choose qualified and the best personnel of all the applicants. Like they, slow and steady wins the race.

Once you hire the right people and you are ready to move ahead. Don’t be tempted to market things in a large quantity for everyone to know, which brings us to the next step

Don’t market to everyone, choose an audience and impress them:

People are always attracted to market loudly hoping to get everyone’s attention which they will but it doesn’t means more customers for them. This will also make you spend your capital indiscriminately.

It will attract so many followers but this doesn’t also increase the patronage of your business. You start a business by taking each step accordingly so it’s better to target an audience or a group of audience in the same cliché which will allow the consumer’s relevance and quality of your interactions to be high

Advertise in marketing channels that are most likely to pay off:

You will need to focus on a few of the dozen marketing channels to build enough recognition for your business. However, there is need to thoroughly explore each potential marketing channel up-front. If you focus on high quantity of channels you market your business, you won’t see virtually any impact compared to the result you will see by funneling that money to the most effective strategy.

Avoid “shiny object syndrome.”

When you have some extra money in your business, every new tool looks like a must-have. Every different possible tactic seems like a worthy resource but persistently dashing after the next exciting thing is what is called “shiny object syndrome,” and with this you are a long way from being successful. You have to consider the impact it will have on your business before chasing after it, which will be an easier way to reserve your funds for better purpose.

Expand with sensibly:

When you start harnessing, capitalizing in new offices, granaries or even new online marketplaces, do so deliberately, investing your money only where it will mostly pay off. Though evaluating sooner may give you more time to grow and make money, you have to remember that this isn’t a race. One high-quality new store location is better than three low-performing ones.

The point is to make the most of every Naira that comes out of your pocket. Your growth may get muffled if you focus more on quantity instead of quality, do your research, invest carefully and this will help balance your business by increasing the speed of its growth.

]]>http://blog.searchit.com.ng/2017/08/31/quality-quantity/feed/0HOW TO START A BLOG AND MAKE MONEY FROM IThttp://blog.searchit.com.ng/2017/08/20/start-blog-make-money/
http://blog.searchit.com.ng/2017/08/20/start-blog-make-money/#respondSun, 20 Aug 2017 09:27:38 +0000http://blog.searchit.com.ng/?p=839Starting a blog is easy, generating traffic and making money from it isn’t. I’m sure we have all thought of starting our own blog; a friend of mine did actually start a blog but it wasn’t really going as he thought it would. He came to me for some insight and the first question I […]

]]>Starting a blog is easy, generating traffic and making money from it isn’t.

I’m sure we have all thought of starting our own blog; a friend of mine did actually start a blog but it wasn’t really going as he thought it would. He came to me for some insight and the first question I asked him was; do you know what it takes successfully build a blog that is generating income? Loads of people have tried but only a very few has successfully generated a substantial income from their effort.

The first step to building a successful blog is writing. If you’re not passionate about writing then you are as well wasting your invaluable time. There is no formula to starting a successful blog, all you need is a deep passion for your craft because there are lots of challenges waiting ahead for you.

Building a blog can be straight forward but generating traffic isn’t. You need an audience, and this requires persistence and focus and also, this takes time so don’t be in a rush. There is a common saying among bloggers which goes; “Any blog can die.” For a blog to be successful, it needs to be consistent and for it to keep being successful, it requires more consistency.

A successful blog requires time, effort and consistency over a long period, probably years, after which you can most certainly generate a substantial income online.

Steps to starting a blog

If you have made it this far, then you’re serious about starting your own blog or probably having the knowledge about it. Here is a step-by-step guide to starting your own blog:

A Topic

Be clear on what you want to write about. Define a topic or niche, and design all your content around those things. This will help you to not only laser-focus your writing, but also to build digital products and services that compliment your content.

This allows you to attract customers in, enticing them with your highly-informative posts, then tempting them with a lead magnet before dropping them into your sales funnel.

A Platform

Currently, WordPress is by far the most popular platform for blogging. There are others out there that can be leveraged such as a micro-blogging platform like Tumblr, Medium or even blogger.com. However, if you’re serious about your blogging efforts, you’ll likely want to go with a self-hosted WordPress installation on a custom domain.

While you could setup a blog at WordPress.com with a subdomain such as myblog.wordpress.com, you’ll get more traction with a self-hosted solution, and then be able to use subdomains on popular platforms for your content-marketing efforts.

A Domain Name

Custom domain names are important if you’re serious about making money from the blog you start. Rather than relying on a third-party-hosted subdomain, find a short but relevant keyword- (“money”- if possible) domain name that’s descriptive of your intended topic, industry or niche. Use Godaddy hosting or any other number of domain name providers to source your domain.

If you’re at all concerned about things like SEO, when selecting your domain name, you should adhere to the following suggestions:

Use a known top-level domain (TLD) such as .com or .net

Keep the domain short, no more than 15 characters or so

Try not to purchase a domain name with hyphens, since they’re more often associated with spammers

Avoid using self-hosted sub-domains to rank or categorize posts

A Good Web Hosting Company

There are loads of good hosting companies out there. If you’re starting a WordPress, self-hosted blog, there are a near-endless amount of options. The important thing is to do your due diligence and pick the right one that’s suitable to your budget and to ensure that the service-level and up-time guarantee is there.

At the beginning, you’ll likely want to start out with either a Managed WordPress solution or a Virtual Private Server (VPS), and scale from there. Eventually, you’ll probably need a dedicated-hosting solution with a CDN (below) once you break through a few thousand visitors per day.

Caching and Content-Delivery Networks (CDNs)

A CDN is a system like W3 Total Cache or WP Super Cache used to ensure that you speed up the delivery of your webpages. In the beginning, this might not seem as important. But as you grow and your traffic increases to thousands of visitors per day, this will be critical. Use Google’s Page Speed Insights to test things before and after the installation.

It’s also important that you setup a CDN, which will speed up the global delivery of your content. For example, your page might load relatively quickly in the United States, but what happens when someone in Australia tries to load your content? CDNs replicate data across multiple repositories around the world, and make content delivery ultra-fast.

This is important for the user’s experience because most people who are forced to wait even a few seconds for a page to load, often abandon the website and go to the next one in the search results. W3 Total Cache integrates with Amazon’s AWS and MaxCDN, two very good options when it comes to CDNs.

Enable Permalinks

In WordPress, you should enable permalinks before getting things off the ground, which will give you nice canonical URLs that are SEO-friendly. Permalinks are located within the settings > permalinks section of your WordPress admin and select the post name option.

Install the AMP plugin

The Accelerated Mobile Pages (AMP) Project is an initiative by Google to speed up mobile accessibility to a large degree of their content. Read more about AMP Specification, it helps to thin down a webpage to its basic structural components with scaled-back JS and minified CSS code, makes for lightning-fast page speeds.

Install Google Analytic

Install Google Analytic so that you can keep track of your efforts while building out your blog. This is a great way to keep track of your results while using the URL campaign builder when dropping links in social media and other places so that you can effectively determine where your traffic is coming from.

Setup Google’s Webmaster Tools

Anyone who’s serious about building a blog and making money, needs to leverage Google’s webmaster tools to see what keywords they’re ranking for and any messages that would impact their ability to rank. This will also allow you to submit an XML sitemap and track keyword impressions along with click-through rates. This is one of the most useful tools for growing your site or blog through constant analysis of your efforts.

Learn SEO the Right Way

Although you shouldn’t start a blog with the intention of optimizing it to oblivion, you most certainly should understand the fundamental principles of search engine optimization (SEO) so that you pay attention to the key aspects that will impact your ability to rank on search engines like Google. Begin with Google’s Webmaster Guidelines, and digest and implement that information. Learning SEO is a long and drawn out journey. You should always be increasing your knowledge and expanding your skill set.

]]>http://blog.searchit.com.ng/2017/08/20/start-blog-make-money/feed/05 MEANS TO GET FUND FOR YOUR START-UP BUSINESShttp://blog.searchit.com.ng/2017/08/15/5-means-get-fund-start/
http://blog.searchit.com.ng/2017/08/15/5-means-get-fund-start/#respondTue, 15 Aug 2017 00:09:48 +0000http://blog.searchit.com.ng/?p=834Everyone wants to start their own business, everyone has an innovative idea, So what’s stopping everyone? Capital!, Fund!. This has always been a major issue when it comes to starting a business. And one of the biggest mistake one can make when starting a business is to do so without any source of consistent funding. […]

]]>Everyone wants to start their own business, everyone has an innovative idea, So what’s stopping everyone? Capital!, Fund!. This has always been a major issue when it comes to starting a business. And one of the biggest mistake one can make when starting a business is to do so without any source of consistent funding. Here are some means to accessing funds for your start-up.

Here are some means to get fund for your business:

Personally

Arguably, the easiest but maybe not the fastest means to raise fund for your business is to acquire and save up funds. If you have a job, don’t quit until your business is running smoothly. Find a way to balance your work with your business for the time being. This will afford you the opportunity to get some basic things done.

Registering your company, branding it and some other things can be sorted out by this fund. And also, one of the most efficient and cheap way to guarantee a positive flow of fund in your business is Bootstrapping.

Bootstrapping can be said to mean less money has to be borrowed and interest costs are reduced. Most start-ups in Nigeria started by bootstrapping. Also, if you build a product that works; it will sell itself. Bootstrapping becomes easier when you follow this rule.

Family and friends

Family and friends are important for various reasons when starting a business. You’ll need them to believe in you. They should be the first set of people who would validate your idea and support you. You can ask them for support both technical and in funds capacity. They serve as a cushion effect to get your idea actualized. Get them to believe in your idea, it prepares you in a certain way.

With them, come what may, you will have people to lean on, inspire and celebrate with you.

Business Loans

There are many loan structures out there that we should start searching for. The major thing to know about the proper utilization of loans is that long terms funds should be invested in long term businesses and short-term funds should be invested in a short-term business.

This is very important as it can cause lots of issues if not properly taken care of. If an asset can only pay back in 5 years, it will be a bad financing decision to raise a loan that will be repaid in 3 years to purchase it. This would mean that the money to repay the loan would come from somewhere as the asset would not generate cash enough to repay the loan in the first 3 years of its life.

In choosing among the variety of options one would also have to consider the cost of capital and of course the risk factor.

Grants

Grants are like when you are being invested into.They are a type of financial aid that do not have to be repaid. Generally, grants are for non-profit charitable organizations but things are changing these days. Grants have become one of the safest means of getting capital.

There are various types of grants out there and all you mainly need is your business plan. Start applying and you could be lucky.

Investors

Lastly, there are people around the world, even here in Nigeria willing to invest into your business. Investment is the commitment and utilization of funds in a company with the expectation that it will generate returns. Because funds and other resources are scarce and their opportunity cost very high, investment becomes one of the only options. This is so because, any decision taken in this respect, whether rightly or wrongly, has a lasting effect on the future growth of the company.

Getting investors or seed funds for your business is not a bad idea especially if you think your idea is “too big” to be bootstrapped. But you should be ready to give away some equity in return.

With these, you now have options on how to get the capital your business needs. They may not be easy but they will be worth it and moreover, it was never meant to be easy. For any question or addition, leave us a comment and we will get back to you.

]]>http://blog.searchit.com.ng/2017/08/15/5-means-get-fund-start/feed/0NEXT STEP AFTER PARTNERING WITH YOUR FRIENDhttp://blog.searchit.com.ng/2017/08/11/next-step-partner-friend/
http://blog.searchit.com.ng/2017/08/11/next-step-partner-friend/#respondFri, 11 Aug 2017 00:40:51 +0000http://blog.searchit.com.ng/?p=831These are the next steps to take after you have successfully followed the “Tips to consider before making your friend a business partner.” It is best to set some ground rules early in the journey so as to lead to a better understanding among both parties. Next step after making your friend a business partner: […]

]]>These are the next steps to take after you have successfully followed the “Tips to consider before making your friend a business partner.” It is best to set some ground rules early in the journey so as to lead to a better understanding among both parties.

Next step after making your friend a business partner:

Define your roles and responsibilities

The first important step to take after deciding on the friend to partner with is Role and Responsibility definition. This will help avoid any overlap, and will also help you clearly define your goal as a business. Once everyone knows their role, then they know what to do.

Every member of the team should have a unique role, provide a unique service. This is why it is important to partner with someone who possess a skill you don’t. This will also get rid of the common syndrome of “Who is the boss” as everyone would know their role and what is expected of them.

Accountability

When in business with a friend or enemy, never mix your personal finances together. Ensure that you have financial best practices in place, to make sure there’s no mismanagement of company funds. Establish separate business and personal bank accounts to this effect and every penny spent should be accounted for.

Business Structure

Before starting the business at all, you should have legally binding documents that defines it; business partnerships between friends are not an exemption. Assume a high degree of professionalism when it comes to business matters and refrain from joking about serious financial matters that would impact your business.

It is important to formally discuss and record possible exits, outcomes, and likelihood of total failure as early as possible. This way, when things go south, they can be resolved amicably between all parties.

Get rid of Bureaucracy

As partner, you will have to make joint decisions for the growth of the business. However, situations will arise when immediate decisions have to be made with no time or opportunity to run things by your partner. You will need to trust your partner to make the best decision.

Emotional Quotient (EQ)

High EQ is as important as High IQ when it comes down to partnership. High EQ is important because it helps you leverage your awareness of emotions for effectiveness in the workplace. It helps achieve career development factors such as leadership, decision-making, open communication, trusting relationship and customer loyalty.

Partnerships are not perfect, comes with a whole lot of flaws and risk but then again, it is just like marriage, or physics; unlike charges attract, negative complements positive, a reaction can only occur when you add acid to base not when you add base to base. Make your partnership work and believe in it.

Before making the big decision of going into partnership with a friend, identify the skills you have and those you lack that are needed for the business; then find the best person that can fill this gap. Do not make the mistake of bringing your friends with no beneficial skills on board just for the sake of friendship. This is a recipe for disaster.

]]>http://blog.searchit.com.ng/2017/08/11/next-step-partner-friend/feed/0TIPS TO CONSIDER BEFORE PARTNERING WITH A FRIENDhttp://blog.searchit.com.ng/2017/08/07/tips-consider-partner-friend/
http://blog.searchit.com.ng/2017/08/07/tips-consider-partner-friend/#respondMon, 07 Aug 2017 00:12:02 +0000http://blog.searchit.com.ng/?p=828Sometimes, friends make good partners but when choosing a friend to partner with, it is very important to be selective because it determines… Due to the economic challenges currently in Nigeria, most Nigerian youth now want to be a boss of themselves, they don’t want to be controlled and they want to own most, if […]

]]>Sometimes, friends make good partners but when choosing a friend to partner with, it is very important to be selective because it determines…

Due to the economic challenges currently in Nigeria, most Nigerian youth now want to be a boss of themselves, they don’t want to be controlled and they want to own most, if not every single penny they make. So a young, creative and talented Nigerian got a brilliant idea that could serve as a solution to a major problem.

Now, he so excited he doesn’t want to do it alone because sincerely, you may own the idea but you will need support; physically, mentally, financially and in some other ways. He tells his best friend(s) and they love it and are willing to help and start the company as partners. He believes he knows them well enough and feels like he got it all covered.

There are various types of friends and friendship. Sometimes it is better to start a company with your enemy rather than your friend. Friendship turn sour, it collapses and the business almost always follows. But then again, like I said, “Sometimes.” Sometimes, friends make good partners but when choosing a friend to partner with, it is very important to be selective because it determines how far your company will go.

Here are some tips to consider before making your friend a business partner;

1. Their Skills And Expertise

The first question is; do their skill and expertise compliment yours? Because if they don’t, what’s their use? We all have various types of friends, the party friend, the movie friend, the work friend, the childhood friend and more and I hope you agree with me when I say they are all equally important. But why call a party friend for work related issue? That’s the point, Choose the friend that makes you better, the friend that can provide you with what you need.

The right co-partner will have skills and expertise beyond the scope of what you know, which is what will make you a formidable team.

2. Their experience

It is a fact that 85% start-ups fail within their first 18 months. This happens due to a whole lot of major and minor reasons but one of the major reasons why this happen is due to lack of proper management. If two inexperienced personnel should decide to partner, I’d say failure is almost inevitable. If an inexperienced personnel should partner with an experienced personnel, I’d say they have a fighting chance. And finally, if two experienced personnel should partner, I wouldn’t say failure is inevitable but then again, they have a better fighting chance than the two mentioned above. Experience goes a long way and serves a great purpose in building a formidable team.

3. Work Habit

If you have never worked with a friend, I can better you don’t know his work habit. He may have gisted you about how his day at work went but have you really experienced it, what inspires him and what kills his morale? You should try to find out about his work habit by starting up a somewhat serious project and watch his flow and reactions to see if he fits what you would settle for.

Try not to take any serious decision ye during this process and just observe. Also listen to what he has to say and compare it to his actions. It is best not to think of the friendship here, instead, think of the future of the business.

4. Complementary Personalities

We have friends we can’t stand and some who seem like our twin brother. Some friends are stubborn, some will agree even when you make the most stupid decision. These are things you also need to consider before going into business with a friend. Is he the smart one or the clever one or the dumb one (We all have those friend). Partners disagree on a whole lot of things but reaching an agreement with a stubborn or hot-headed person would be hard so you need the opposite of that while making sure they are not too cool headed to follow and stupid decision you make.

Is your personality excessive? Choose someone who can get rid of your excesses, someone who is more practical. As an introvert, partner up with an extrovert; this balances everything out.

5. Difference in Contact and Social Network

This is important for the growth of the business. We share the same crowd with most of our friends which might not be good for the business growth. You need someone that would double your contact list, someone that can provide you with a different set of clients compared to that which you already have.

There is a major difference between friendship founded on business and business founded on friendship. Every friend plays a different role in your life and your business. I hope this is helpful to us. If you have any question, feel free to drop it in the comment box and we will get back to you as soon as we can.